NEW YORK (
was the best-performing stock in the
The S&P was down 4.07 points, or 0.29%, to 1,388.71 early Friday.
Shares of Textron rose 1.7% to $26.88. On Friday, Textron's Cessna division signed two strategic agreements with Aviation Industry Corp. of China to build business jets in China.
Texton has an estimated price-to-earnings ratio for next year of 11.49 times; the average for aerospace companies is 13.3. For comparison, both
have higher forward P/Es of 12.39 and 13.12, respectively.
Ten of the 16 analysts who cover Textron rated it buy. Five analysts gave the stock a hold rating and one rated it sell.
gives Textron a
and a hold rating. The stock has risen 45.11% year to date.
-- Written by Alexandra Zendrian
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